The cash steer market peaked last fall at $1.85/lb. on November 1 in the Southern Plains. Last week, cash steer prices traded from $1.83/lb.-$1.86/lb. in the south. Prices in the North were stronger, edging up to $1.88/lb. tops in Nebraska and $1.895/lb. for a top in Iowa. Dressed trade was reported at $298.00/cwt. with unconfirmed reports of trade as high as $300.00/cwt.
For the third consecutive week, packers have been holding the kill below 600,000, and in collusion, all been trying to break the cash steer market. It has not worked. Cash has edged higher over the last three weeks.
The…
